|
|
|
MIRA INFORM REPORT
|
Report No. : |
495438 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
JETWAYS TRAVELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat-N0/521 Indraprakash Building Barakhamba Road, New
Delhi – 110001 |
|
Tel. No.: |
91-11-44112200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.03.1990 |
|
|
|
|
Com. Reg. No.: |
55-039705 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 42.944 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1990PTC039705 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ0054A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of travelling agency providing
tickets, hotels arrangements etc. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 640000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Jetways Travels Private Limited was incorporated in the year 1990. It
is engaged in providing Tours and Travels services. For the financial year 2017, the revenue of the company has increased
by 2.79% along with decent profit margin of 9.57%. The sound financial profile of the company is marked by adequate
networth base along with negligible debt level. The rating takes into consideration equity infused by its promoters. The rating also takes into consideration the subject’s long track
record of business operations along with extensive experience of its
promoters. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 06.03.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered Office : |
Flat-N0/521 Indraprakash Building Barakhamba Road, New
Delhi – 110001, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
U.G.F. 5, Indraprakash Building, 21, Barakhambha Road, New
Delhi – 110001, India |
|
Tel. No.: |
91-11-44112200 |
|
Fax No.: |
91-11-23721731 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
304 'A' Wing, Mangalya Building, Off Marol Maroshi Road, |
|
Tel. No.: |
91-22-29203810/14/40575656 |
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Fax No.: |
91-22-40575630 |
|
|
|
|
Branch 2 : |
Office No. 304, Millenium Star Building, Dhole Patil Road, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-020- 26166724/25/26/27 |
|
|
|
|
Branch 3 : |
402, DLF Galleria, DLF City, Phase 4, Gurugram, Haryana – 122002, India |
|
Tel. No.: |
91-124-4411200 |
|
Fax No.: |
91-124-4053260 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Asha Burman |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
23 Kautilya Marg, Chanakayapuri, New Delhi – 110021, India |
||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
24.01.1945 |
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Date of Appointment : |
30.03.1990 |
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DIN No.: |
00042199 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jitender Kumar Budhraja |
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|
Designation : |
Managing Director |
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Address : |
J-1824 C. R. Park New Delhi – 110019, India |
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Date of Birth/Age : |
14.05.1955 |
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Date of Appointment : |
01.07.2005 |
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DIN No.: |
00246640 |
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|
||||||||||||||||||||||||||||||||
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Name : |
Mrs. Minnie Burman |
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Designation : |
Director |
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|
Address : |
2 Rajesh Pilot Road, New Delhi – 110011, India |
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Date of Birth/Age : |
24.08.1958 |
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Date of Appointment : |
01.05.2009 |
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DIN No.: |
02614903 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Asha Burman |
|
448315 |
|
Minnie Burman |
|
506647 |
|
Neena Budhraja |
|
324439 |
|
Gyan Enterprises |
|
1011662 |
|
Puran Associates |
|
953329 |
|
|
|
|
|
Total |
|
3244392 |
|
Names of
Preference Shareholders |
|
No.
of Shares |
|
Milky Investment and Trading Company, India |
|
1050000 |
|
|
|
|
|
Total |
|
1050000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
23.82 |
|
Promoter – (Individual/ Hindu Undivided
Family – Non-Resident Indian) |
15.62 |
|
Promoter - Bodies
corporate |
60.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of travelling agency providing
tickets, hotels arrangements etc. [Registered Activity] |
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Products : |
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||||||
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||||
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Imports : |
Not Divulged |
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||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
|
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Facilities : |
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Auditors : |
|
|
Name : |
Agarwal and Ahluwalia Chartered Accountants |
|
Address : |
C-60, First Floor, South Extension Part- I, New Delhi – 110049, India |
|
Mob. No.: |
91-9891738888 |
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E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFA6326K |
|
Membership No.: |
085116 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over which person in I or II are able to exercise
significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
1100000 |
0% Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 11.000 Million |
|
|
Total |
|
INR 51.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3244392 |
Equity Shares |
INR 10/- each |
INR 32.444
Million |
|
1050000 |
0% Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 10.500
Million |
|
|
Total |
|
INR 42.944 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.944 |
32.444 |
32.444 |
|
(b) Reserves &
Surplus |
183.780 |
168.595 |
157.510 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
226.724 |
201.039 |
189.954 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5.821 |
9.927 |
9.738 |
|
(b) Deferred tax
liabilities (Net) |
0.740 |
0.762 |
1.106 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.663 |
3.454 |
3.500 |
|
Total Non-current
Liabilities (3) |
10.224 |
14.143 |
14.344 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
29.567 |
55.683 |
60.894 |
|
(b) Trade payables |
123.302 |
120.448 |
103.076 |
|
(c) Other current
liabilities |
11.950 |
16.289 |
22.181 |
|
(d) Short-term provisions |
3.679 |
6.098 |
3.164 |
|
Total Current Liabilities
(4) |
168.498 |
198.518 |
189.315 |
|
|
|
|
|
|
TOTAL |
405.446 |
413.700 |
393.613 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
82.226 |
84.442 |
86.201 |
|
(ii) Intangible Assets |
0.972 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.391 |
13.342 |
7.148 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
97.589 |
97.784 |
93.349 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.352 |
1.637 |
0.641 |
|
(c) Trade receivables |
270.418 |
241.082 |
258.102 |
|
(d) Cash and cash
equivalents |
23.008 |
54.189 |
10.992 |
|
(e) Short-term loans and
advances |
10.760 |
16.162 |
28.424 |
|
(f) Other current assets |
2.319 |
2.846 |
2.105 |
|
Total Current Assets |
307.857 |
315.916 |
300.264 |
|
|
|
|
|
|
TOTAL |
405.446 |
413.700 |
393.613 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
158.621 |
154.303 |
142.135 |
|
|
Other Income |
0.649 |
0.565 |
1.764 |
|
|
TOTAL |
159.270 |
154.868 |
143.899 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8.596 |
8.463 |
4.741 |
|
|
Employees benefits
expense |
77.980 |
73.849 |
67.525 |
|
|
Other expenses |
39.889 |
36.373 |
31.322 |
|
|
TOTAL |
126.465 |
118.685 |
103.588 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
32.805 |
36.183 |
40.311 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2.496 |
6.049 |
9.746 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
30.309 |
30.134 |
30.565 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.245 |
9.660 |
11.597 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
22.064 |
20.474 |
18.968 |
|
|
|
|
|
|
|
Less |
TAX |
6.878 |
6.656 |
6.550 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
15.186 |
13.818 |
12.418 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sale of Ticket |
2.647 |
10.410 |
11.829 |
|
|
Hotel Commission |
0.413 |
0.202 |
0.044 |
|
|
TOTAL EARNINGS |
3.060 |
10.612 |
11.873 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.68 |
4.25 |
4.15 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.985 |
0.511 |
8.000 |
|
Cash generated from operations |
7.108 |
80.030 |
15.356 |
|
Net cash flow from operating activity |
(0.712) |
68.533 |
7.024 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
622.25 |
570.27 |
662.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.59 |
0.64 |
0.55 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
5235.60 |
5194.79 |
7935.61 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
24.26 |
22.10 |
62.89 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.39 |
0.43 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.43 |
0.51 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.16 |
0.33 |
0.41 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.74 |
0.99 |
1.00 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.37 |
0.42 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
13.14 |
5.98 |
4.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.57 |
8.96 |
8.74 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.75 |
3.34 |
3.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.70 |
6.87 |
6.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.83 |
1.59 |
1.59 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.82 |
1.58 |
1.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.56 |
0.49 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.85 |
2.04 |
2.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.83 |
1.59 |
1.59 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
32.444 |
32.444 |
42.944 |
|
Reserves & Surplus |
157.510 |
168.595 |
183.780 |
|
Net worth |
189.954 |
201.039 |
226.724 |
|
|
|
|
|
|
long-term borrowings |
9.738 |
9.927 |
5.821 |
|
Short term borrowings |
60.894 |
55.683 |
29.567 |
|
Current Maturities of
Long term debt |
8.000 |
0.511 |
0.985 |
|
Total borrowings |
78.632 |
66.121 |
36.373 |
|
Debt/Equity ratio |
0.414 |
0.329 |
0.160 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
142.135 |
154.303 |
158.621 |
|
|
|
8.561 |
2.798 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
142.135 |
154.303 |
158.621 |
|
Profit |
12.418 |
13.818 |
15.186 |
|
|
8.74% |
8.96% |
9.57% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF AFFAIRS
The company is engaged in the business of travelling agency providing
tickets, hotels arrangements etc. and in hotel business under the brand of New
Leaf in Pune. There has been no change in the business of the company during
the financial year ended 31st March 2017.
The highlights of the company’s performance are as under:
Revenue from Operation increased by 2.84% from INR 154.868 Million to
INR 159.270 Million
Net profit for the year increased by 9.90% from INR 13.818 Million to
INR 15.186 Million
Earning per share have also increased by 10.12% from INR 4.25 to INR
4.68.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From related
parties |
|
|
|
Milky Investment and Trading Company |
3.500 |
9.500 |
|
|
|
|
|
Total |
3.500 |
9.500 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A93712727 |
10237146 |
IDBI BANK LIMITED |
09/08/2010 |
- |
- |
40000000.0 |
3rd Floor, Indian Red Cross Society Buildin Gred Cross Road New Delhi Dl 110001 India |
|
2 |
C38717757 |
80004104 |
IDBI Bank Limited |
12/12/2001 |
22/09/2014 |
- |
180000000.0 |
3rd floor, Indian Red Cross Society Building Red Cross Road New Delhi 110001 India |
FIXED ASSETS
- Land
- Building
- Computers
- Furniture and
Fixture
- Office
Equipment
- Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.